Ministry of Finance of the Russian Federation
Ministry of Finance of the Russian Federation

JOINT PRESS RELEASE The Second Russia-China Finance Ministerial Dialogue


Moscow, Russian Federation, July 11, 2007. On the occasion of «Chinese Year» being held in Russia, at the invitation of the Minister of Finance of the Russian Federation Mr. Alexey Kudrin, the Minister of Finance of the People’s Republic of China Mr. Jin Renqing accompanied by the delegation of top officials of the Ministry of Finance of China visited Russian Federation on July 10–13, 2007. In the framework of the Second Ministerial Russia-China Finance Dialogue, the Ministers held bilateral talks, chaired the financial dialogue with full-fledged participation of delegations from both Ministries, and also welcomed at the opening ceremony the Inter-Ministerial Finance Conference «Public Finance and Economic Growth» in Moscow.

Minister Jin and Minister Kudrin exchanged views on macroeconomic aspects of sustainable and balanced growing economies of the Russian Federation and the People’s Republic of China in the context of the global imbalances. The Ministers discussed in candid and in-depth manner a number of issues of mutual professional interest, in particular the relevant practices in China and Russia of public finance management, including fiscal policies, inter-budgetary relations, financial reform, tax policy and other issues. They have also reviewed the current risks and challenges in international financial area, and explored opportunities of cooperation in this context.

Both Ministers agreed that Russia-China Financial Ministerial Dialogue is an important tool to widen the basis for mutual economic cooperation. They also agreed that strengthening of this financial dialogue is of great significance to the development of the China — Russia Strategic Partnership of Coordination. They both expressed their full satisfaction with the outcomes of the Second Russia-China Financial Ministerial Dialogue in Moscow.

The Minister of Finance of the People’s Republic of China Mr. Jin Renqing had a meeting with the Prime Minister of the Government of the Russian Federation H. E. Mr. Mikhail Fradkov on 11 July, 2007.

The Ministers agreed that they will meet next year in Beijing to convene and chair the Third Russia-China Financial Ministerial Dialogue and to continue their discussions.